Françoise Bettencourt Meyers, the richest woman in the world whose net worth stands at$95.4 billion, is the granddaughter of L'Oreal's founder Eugène Schueller.
According to Forbes,Meyers' wealth increased after the stocks of her company surged by $627 million, making her the 15th richest person in the world.
The businesswoman inherited the company from her late mother Liliane Bettencourt, who passed away in 2017.
Meyers, the 70-year-old heiress, owns at least 35% of the L’Oreal shares.
L’Oreal is a multinational personal company and is the world’s leading beauty and cosmetic company.
The firm owns 36 companies under its name such as Maybelline, Kiehl’s and Yves Saint Laurent. It earned 41.18 billion euros (US$44 billion) in sales last year, according to its annual report.
Meyers also serves as the president of her family's philanthropic foundation, which encourages French progress in the sciences and arts.
The heiress is also a writer and has authored a book on the Greek gods and another with commentary on the Bible.
With a net worth of $209.5 billion, she is still far behind her French rival Bernard Arnault, who is the world’s richest man.
The largest luxury conglomerate in the world, LVMH, was founded by Arnault and is home to a number of upscale labels, such as Louis Vuitton and Fendi.